S&P Global Commodity Insights has released a forecast indicating that China's solar installations are set to reach an impressive 170 GW in 2023, contributing to a global total of 400 GW. Principal Analyst Holly Hu shared this projection at a conference held in Chuzhou, Anhui province, attributing the anticipated growth to a convergence of three pivotal factors.
The first factor is the anticipated recovery of the ground-mounted photovoltaic (PV) market, stimulated by declining module prices. Second, robust expansion in the distributed solar markets of the European Union (EU), the United States, and China is expected to drive growth. Lastly, there is increasing demand for PV installations driven by the production of green hydrogen, reflecting a broader global commitment to sustainable energy solutions.
The Shanghai Stock Exchange (SSE) has confirmed the approval of Xinte's initial public offering (IPO) application. Xinte intends to issue a maximum of 30,000,000 shares, aiming to raise up to CNY 8.8 billion (approximately $1.2 billion). The funds generated from the IPO will be directed toward the establishment of an electronic-grade polysilicon production base with an annual capacity of 200,000 metric tons. According to Xinte's prospectus, the company had achieved a total polysilicon capacity of 200,000 metric tons by the end of 2022.
In another development, GCL Technology has announced the commencement of production for its 100,000 metric ton granular silicon project dedicated to n-type products. This project, initiated in November 2022, represents the fourth granular silicon production site for the company, following those in Leshan, Baotou, and Hohhot. At full capacity, the facility is anticipated to reach 120,000 tons. GCL Technology has also outlined plans to augment the maximum effective production capacity across all its plants, underscoring its commitment to expanding its presence in the silicon market.
